Originally Posted by registerthis
"As for the family, I don't know all the details but it seems to me that a responsible bank wouldn't loan someone with their financial history that kind of money."
Which does not in any way remove the "personal responsibility" that one has over his or her own financial affairs. If you can't be bothered to budget appropriately and educate yourself on the potential ramifications and consequences of your decision(s), then certainly you bear a significant portion of responsibility for what may come. In most circumstances, that is.
Oh, absolutely. Just because a bank is stupid enough to loan you money doesn't mean you have to spend it like a drunken sailor on shore leave.
I don't watch the show so I have no idea what this family is like but it seems to me that their intentions were honorable. They were trying to start a business and (hopefully) not trying to bilk anyone. In hindsight, perhaps what they should have done is sell the house and move into something worth about half of what their new house was worth. Although, I'm sure that the folks who run the show wouldn't have appreciated that too much.